EAC: Buhari must first own the disaster he created in the economy – Ezekwesili

Former Minister of Education, Oby Ezekwesili has urged members of the newly constituted Economic Advisory Council to tell President Muhammadu Buhari how he mismanaged the economy in the last 4 years.

In a series of tweets on Tuesday, September 17, Ezekwesili said President Buhari runs the economy and all those bad monetary policy decisions were made by him.

She added that President Buhari must first own the disaster he created before making an attempt to change it, stating that “until you own a problem, it is Impossible to solve it”.

She wrote “The setting up a Council of Economic Advisors is in itself one of the features of the American Presidential system which we copied. Strong membership and that’s really great. I hope the first thing they do is tell the President how he mismanaged the economy in the last 4 years.

“For those who will jump on this timeline to say, ‘It was not the President that was in charge of the economy. It was the VP chairing the Economic Team’ please don’t bother. The President was managing the economy. All those bad monetary policy decisions were made by him.

“Two, the President was managing the economy. All those strange fiscal policy decisions were made by him. Both the CBN Governor and the Ministers of Finance were not acting based on any Economic Management Team decisions. For WIA. Now at least the pretence is over about economy.

“The EMT was in reality chaired by the VP who had no power over core economic policy decisions. The other side of the Presidency did not mind having him be the cannon fodder for all the extremely bad economic policy decisions. A President, not VP runs the economy. I know that.

“Until you Own a Problem, it is Impossible to Solve it. As it is with individuals, so it is with nations.

“That’s why I am shaking my head at those who are crying because of advice to the newly constituted Council of Economic Advisers to start off by telling the President that he mismanaged our Economy. He needs to Own that Problem in order to be ready to do DIFFERENTLY. That’s all.

“All these crying on my TL is a waste of tears. The Economy is in Deep Crisis because of extremely Bad Policies that the President commanded the Central Bank, Ministry of Finance and other related establishments to implement. He must 1st own the Disaster he created. Then Change!”

Recall that President Muhammadu Buhari on Monday, September 16, replaced the Economic Management Team chaired by Vice President Yemi Osinbajo with an Economic Advisory Council.

The Economic Advisory Council has Prof Doyin Salami as the Chairman and will be reporting directly to President Buhari.

The setting up a Council of Economic Advisors is in itself one of the features of the American Presidential system which we copied.Strong membership& that’s really great. I hope the first thing they do is tell the President how he mismanaged the Economy in the last 4 years. /1

For those who will jump on this timeline to say, “it was not the President that was in charge of the Economy. It was the VP chairing the Economic Team” please don’t bother. The President was managing the Economy. All those BAD Monetary Policy decisions were made by him./2

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